Benny Peiser's Global Warming Policy Foundation Reports Low Oil Price Drives New Shale Revolution As American Shale Producers Punch Back In Fight With OPEC And China’s Coal Consumption 14% Higher Than Previously Thought, Furthermore India Plans To Double Coal Production By 2020.
Editor's Note - Both India and China are refusing to commit themselves to any binding agreement on CO2 emissions claiming - along with the rest of the "undeveloped" world - developed countries are responsible for the coming "climate disaster" and have to fix it themselves. It's a sneaky way of saying Global Warming is a load of horsepucky and they're not going to be a part of this silliness, yet they can deflect any criticism from themselves by blaming the west, which is full of self hating leftist media, academics and politicians who are more than willing to accept all this clabber. Paul Driessen is right - is all "insanity on steroids!" Clever fellows these Third Worlders. But, then again - how clever do you have to be to outsmart the likes of Kerry and Obama? Jimmy Carter must truly be as happy as a clam Obama is President. He's no longer the dumbest man to ever occupy the White House.
Low Oil Price Drives New Shale Revolution - Easy money, super-sized frack jobs, and desperate drillers offering deep discounts to oil producers – all three have been credited for sustaining U.S. crude output during the worst price slump in six years. Now there appears to be a new factor in the mix: old vertical wells that can quickly be drilled, injected with water or fracked for a second time to increase production at low cost. The industry’s ability to find some workaround every time prices seem too low to keep pumping explains in part why 15 months into the downturn U.S. output stays near highs of around 9 million barrels a day and the government forecasts only modest declines through mid-2016. --Reuters, 15 September 2015
American Shale Producers Punch Back In OPEC Fight - For Saudi Arabia and the rest of the world’s petrostates, facing off against upstart U.S. oil producers must feel like playing a game of whack-a-mole. The American oil industry’s ability to innovate has shocked the Saudis and stymied their strategy, and even now we’re seeing evidence of new techniques being employed to help keep the crude flowing in today’s bear market. This is far from the first creative U.S. solution to the problem of continuing to produce oil at sub-$50 per barrel prices, and you can be sure that it won’t be the last. --The American Interest, 16 September 2015
Resilience Of Shale And Disappointment Of OPEC - Almost nine months have passed since the historic OPEC meeting when its swing producer role was abolished and its members were allowed to produce as much oil as they can in order to cause the oil prices to reduce so that US shale oil producers would be forced out of business. However, the opposite happened. Shale oil producers are still in business even though oil prices have dropped below $50 per barrel. In fact, USA oil production is at its peak with production of more than 9.5 million barrels a day, and is bound to increase further. So where did OPEC go wrong? Despite having all kinds of information regarding energy and being in daily contact with both sides of the market - consumers and producers, it still failed to estimate the power of the shale oil producers. In fact, it even failed to know the actual cost for producing one barrel of shale oil. --Arab Times, 30 August 2015
In US Shale Fields, Oil Production Sliding Fast - The flow of crude from what had been the country’s fastest-growing oil and gas regions, like Texas’ Eagle Ford shale, is declining rapidly, according to new data released by the federal government this week. The Energy Information Administration reports that across the country’s seven largest shale deposits oil production is expected to fall to 5.2 million barrels a day next month, the sixth consecutive month of decline and a six percent drop since April. Now drilling rigs are sitting idle and producers are actually opting not to turn on the wells they drill, letting the oil sit underground until prices improve. By and large, most forecasts predict U.S. oil production will continue declining through mid-2016. At that point, the theory goes, the decrease in supply should push up crude prices and get drilling rigs back in the fields. --James Osborne, The Dallas Morning News, 16 September 2015
Scottish Nationalists At War Over Fracking - SNP members are preparing to take on Nicola Sturgeon’s government over fracking in a highly unusual public show of rebellion within the nationalist party. In the most significant internal challenge to the controversial extraction practice, seven SNP activists, including a sitting councillor, have called on fellow members to back their bid for an outright ban. Holyrood has faced calls to clarify its policy on fracking from both sides of the debate ever since its moratorium was imposed in January. Jim Ratcliffe, the chief executive of the petrochemical firm Ineos, has claimed that he has received private assurances that the SNP is “not against” fracking, suggesting that the moratorium could eventually be lifted. Ministers were also criticised after it emerged that personal assurances were given to another firm, Cluff Natural Resources, over its proposals for an offshore operation in the Firth of Forth. --Paris Gourtsoyannis, The Times, 17 September 2015
Peter Foster: Naomi Klein’s Great Leap Backwards - The “Leap Manifesto” issued on Tuesday by an asylum full of celebrity victims of Harper Derangement Syndrome – led by Naomi Klein and David Suzuki – is certainly a thought-provoking platform. The main thoughts it provokes are: Does achieving celebrity cause a sharp drop in IQ and increase in hypocrisy, or does all-consuming artistic ego and/or power-hungry socialist inclination prevent all logical thought? --Peter Foster, Financial Post, 17 September 2015
China’s Coal Consumption 14% Higher Than Previously Thought - A newly released analysis of Chinese government data by the U.S. Energy Information Administration found over the past decade-plus, China consumed as much as 14% more coal on an energy-content basis than previously reported. Its domestic coal production meanwhile was as much as 7% higher between 2000 and 2013. The upward revisions are also a reminder of just how unreliable Chinese government data can be. It illustrates just how difficult it is to get an accurate historic account of China’s emissions of CO2 into the atmosphere. --The Wall Street Journal, 17 September 2015
India To Double Coal Production By 2020 - Coal India’s plan to double production to almost 1 billion tonnes by 2020 hinges precariously on the successful completion of 25 key projects that are meant to deliver half the targeted output. To speed up the rail links, the government is forming special purpose vehicles in which Coal India is likely to hold the majority stake, followed by the Indian Railways and the respective state governments. --Debjoy Sengupta, Times of India, 11 September 2015
India Says No: ‘West Polluted World’ for 150 Years, And India Won’t Pay - “You made the mess — you clean it up” may well be India’s attitude at the coming international climate-change talks in Paris. “It’s the West which has polluted the world for the last 150 years with cheap energy,” Indian Power Minister Piyush Goyal said in an interview. “I can’t tell the people of India that we’ll burden you with high costs because the West has polluted the world, now India will pay for it. Not acceptable to us.” --Anindya Upadhyay, Bloomberg, 17 September 2015
African Nations Threaten To Veto Paris Climate Deal - African negotiators plan to block a global agreement on reducing global warming if the deal is too weak and fails to consider the implications of climate change for the continent’s wellbeing. --SciDev Net, 16 September 2015
Republican Candidates Hammer Obama’s ‘Left-Wing’ Policies On Climate Change - Sen. Marco Rubio (R-Fla.) and some of his rivals for the Republican presidential nomination slammed the Obama administration’s climate policies during a short exchange on the matter during their Wednesday night debate. “We’re not going to destroy our economy the way the left-wing government we’re under wants to do,” Rubio said at the main-stage event. “Every proposal they put forward are proposals that will make it harder to do business in America, that will make it harder to create jobs in America.” --Devin Henry, The Hill, 16 September 2015
Green Republicans Call For ‘Action’ On Climate - It’s hard to imagine House leadership or any committee of jurisdiction scheduling time to debate or mark up this latest Constructive Republican Alternative Proposal. Nonetheless, given the administration’s increasingly shrill anti-carbon campaign, the impending Papal visit to preach climate alarm to congressional skeptics, and the looming pitched battles over the Clean Power Plan and Obama’s climate treaty agenda, we should not be complacent when a group of GOP lawmakers decides to crank the Me Too amplifiers up to eleven. Perhaps the Me Too resolution will languish in obscurity after today’s unveiling. But if co-sponsors start piling on, congressional constitutionalists, free-marketers, and affordable energy advocates will need to pass their own resolution to marginalize that of the Tweedle Dums. --Marlo Lewis, GlobalWarming.org, 17 September 2015
Polish Elections Complicate EU Quest For Paris Climate Stance - Looming parliamentary elections in coal-dependent Poland will bedevil European Union efforts on Friday to agree a strong position for a global deal to tackle climate change. EU environment ministers meet in Brussels on Friday to finalise the bloc’s negotiating position for a U.N. climate summit in Paris starting at the end of November. Many EU nations are eager to retain the leading role the bloc has taken in moving to lower carbon energy, but Poland, whose economy relies on coal, says the cost of shifting from fossil fuels will undermine EU competitiveness unless the rest of the world is in step. Warsaw has support from other east European nations, diplomats said. --Barbara Lewis, Reuters, 17 September 2015
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